Aug 20, 2011

CBI Freezes 25 Bank accounts of companies run by YS Jagan Mohan Reddy son of Y S Rajasekhara Reddy, the former chief minister of Andhra Pradesh

CBI Freezes 25 Bank accounts of companies run by YS Jagan Mohan Reddy son of Y S Rajasekhara Reddy, the former chief minister of Andhra Pradesh

Few days back The Andhra Pradesh high court division bench comprising chief justice Nisar Ahmad Kakru and justice Vilas V Afzulpurkar issued the order and directed the CBI to probe how YSR Congress Party chief Jaganmohan Reddy’s assets allegedly became disproportionate with his known sources of income after the CBI submitted its preliminary findings.

July 19 –

Jagan filed appeal in Supreme Court to stop the inquiry by CBI but Supreme Court refused to stop the inquiry.

On Wednesday, as directed by the Andhra Pradesh High Court, the CBI booked cases

of cheating, criminal conspiracy, and criminal breach of trust against him.

In addition, cases were booked under the Prevention of Corruption Act, 1988.

The CBI continued raids on the offices of a mining company at Bayyaram in Khammam district and also that of Harita Fertilizers in Nalgonda town belonging to Ravindranath Reddy, a cousin of YSR.

On Friday CBI froze 25 bank accounts in HDFC and ICICI banks belonging to some companies run by Jaganmohan Reddy and his associates and also the Jagati publications.

Media reported that more than 12 or 14 MLAs who are supporters of YSR Congress chief YS Jaganmohan Reddy, are planning to resign from their posts protesting the CBI raids on the Kadapa MP's businesses.

Important Point is that the action is taken only after the The Andhra Pradesh high court directions and orders.